The $100 MBA Show

Movies offer some of the best lessons in life and business. No, we’re not talking about Wall Street (though that’s a really good one, too). We’re talking about movies that aren’t the biggest blockbusters, but that have some of the deepest insights into the true nature of entrepreneurship. We’re talking about movies that can genuinely make you a better entrepreneur. These 4 movies are the top of ou...

As your team grows, it’s important to set the terms of employment. Otherwise, you and your business can be left vulnerable, legally speaking. Crafting solid employee contracts doesn’t require a law degree (though you should have someone with a law degree look your contracts over). It does, however, require some knowledge and resources. Today, we discuss how to put your own employee contracts toget...

Before you throw in the towel, listen to this. Actually, listen to this immediately, whether you’re just getting started, or you’re established in your independent business. Because most entrepreneurs quit, and most of those who quit aren’t defeated — they just think they are. The simple truth we discuss in this episode saved our business, and it can save yours too. There’s a very common reason th...

A business person needs to be a champion. Perseverance, heart, and the will to dig deep for the best in yourself are the basic qualifications for entrepreneurship. Nowhere can we find better lessons for all that than in the memoirs of literal champions like Andre Agassi. Let us put this out there: this is the best autobiography we’ve ever featured on this podcast, full stop. Open isn’t about busin...

You’re about to blow up. Are you ready? When big things are on the horizon, you have to prepare your business. “Catastrophic success” is real and dangerous, and businesses that aren’t prepared to handle a sudden spike in recognition and sales can founder. If you know your business is about to raise its profile, it’s time to gear up for the next level. Today, we discuss how to get ready for when th...

What’s stopping you from starting your own business? If you said money, you’re not alone. In fact, a lack of startup cash is among the primary reasons people never get their big idea off the ground. So how can you break free from a lack of capital, without resorting to loans or investors? How can you put together the scratch all on your own? We know how. We’ve done it. Today, we help you create yo...

The subscription box: it’s all the rage, as enthusiasts of all kinds sign up to get a fresh collection of hobby-specific goodies each month. But how specific can you get? How niche is too niche to sustain a profitable box-driven business? It’s Q&A Wednesday, and we’ve got a listener with a very targeted, extremely niche idea for a subscription box service. And while we always recommend finding ver...

When it comes to keeping customers, onboarding is everything. Getting your customers immediately engaged with your product is key to reducing churn and getting a return on all your marketing and advertising investment. It’s also key to creating evangelists for your brand, as new customers become repeat customers and convince others to join them. You don’t just need buyers — you need users. And you...

You know that podcasting is a powerful marketing tool. You know it can build brand awareness and accelerate the growth of your business. You know it works. You’re just not sure how, exactly. Well, we’ve got the special guest teacher for you. Kate Erickson is an authority on podcasting, having helped turn the EOFire (that’s Entrepreneurs On Fire) podcast into a multi-million dollar revenue generato...

Everyone loves a freebie. But if you do a promotional giveaway, are you getting anything in return? Contests, random drawings, and other giveaways are definitely fun, and they definitely generate some buzz. But if you’re not careful about how you implement your giveaway, you can end up simply…giving stuff away! You’re a business person, not Santa. You want a return on investment. So how can you ma...

Get. More. Done. Every independent business person wants to be more productive. The more we get done, the faster our business grows — and the more time we have to enjoy the lives we build for ourselves. We’ve discussed a zillion productivity hacks on this podcast, from scheduling to single-tasking and more. Today, we’ve got a trick from way out in left field. You probably haven’t thought of it. Bu...

It’s a question every growing business has to face once they scale: can I trust new team members with sensitive information? It’s Q&A Wednesday, and one listener is in exactly that pickle. Support staff in particular need to have access to banking details and other info you’d like to keep in-house. Is it a security risk? Are there ways to keep your information safe while still serving your custome...

Does one price fit all? Or should you offer different strokes for different folks? If so, how many different pricing tiers make sense for your business? That’s the question we’re pondering today, as we discuss the number of price options you should present to your potential customers. It’s a frequently asked question, one whose answer depends on several factors. Your pricing structure has to commu...

Ready to take on social media marketing? Gary Vaynerchuk is a teacher, leader, best-selling author, and an omnipresence on social media. The man is everywhere in the online entrepreneurial space. His book Crush It was an instant classic, and an inspiration to countless independent business people. Now, he’s back with a sequel, and it’s this week’s Must-Read: Crushing It. We love this book for seve...

Every ( every) business needs a website. It doesn’t have to be overly complicated, but it has to work. What it costs will vary depending on your needs, but what’s the bare minimum? You could argue that no investment is too great for your online storefront. But realistically, we want to get the biggest impact for the smallest price tag. Today, we discuss what you can expect to spend, and how to fin...

Forgot username or password? We’ve all clicked it. We’ve all needed it. We’ve all lost track of the dozens of passwords that pile up when you’re running a business and have multiple accounts for chat, banking, CMS, email, and more. So how can we eliminate the hassle without compromising our security? How can we keep our security effective while making it less of a pain? We’ve got you covered. You...

Got an idea for an app? Dying to create software that will change how everyone does…something? Are you bursting with ideas, but totally lacking the technical knowledge to actually develop the tech yourself? You’re not the only one. It’s Q&A Wednesday, and one listener’s got a frequently asked question: can a non-tech person start a software company? Can an entrepreneur with zero coding or developm...

A healthy entrepreneur is a successful entrepreneur. Conversely, an entrepreneur who’s out of shape is physically, mentally, and emotionally less equipped to handle the challenges of running a business. We’re not the first (or the only) ones to say it, but far too people take it seriously. Health is a requirement, if you want to reach your true potential as a business leader. It’s not self-centere...

It’s time to toss the funnel. Yes, that funnel; the marketing and sales funnel that’s been the gospel of online business strategists for just a little too long. While the premise of attracting an audience, converting that audience into leads, and turning those leads into customers is still valid, the one-size-fits-all approach needs a little refining. Let’s build a new funnel. Actually, let’s buil...

What should you be charging? It’s a question every freelancer and service-based business owner has to answer. Setting the right rates is crucial to the ROI and long-term sustainability of your business. Whether you’re a photographer, developer, writer, or any other service provider, your time has to be worth enough to keep the business growing. Otherwise, you’re running in place. Today, we discuss...

We all know entrepreneurship is hard work. But if it’s not fun, what’s the point? In order for your business to be successful, it has to be enjoyable. That’s not some feel-good naivete — it’s a cold, hard fact of business. If it sucks, it isn’t sustainable. You have to take some pleasure in your business, or your motivation will fail. You have to look forward to what you’re doing, because the busi...

Even for entrepreneurs, business is a team sport. So how can you keep your best players loyal to the squad? How do you inspire commitment over months and years? How do you create motivation beyond your employees’ paychecks, so they want to give their best? How do you keep them around? Employee loyalty can be one of your greatest assets. Frequent turnover of your staff wastes time, money, and resou...

Sometimes, you just don’t feel like it. We’ve all glared at the alarm clock with that death stare. We’ve all laid in bed for far too long, dreading the work ahead. We’ve all wasted time because of a lack of motivation. We’ve all been tired, depressed, unenthused. We’ve all been there. But there’s a cure. Today, we offer 4 techniques to get inspired, get motivated, and get the heck out of bed. As e...

Wondering how to get more customers? How to appeal to the people to whom you’re trying to sell? Start by learning how their brains work. Daniel Kahneman is a psychologist who’s studied the science of human decision-making for decades. His book Thinking, Fast and Slow is a practical investigation of the brain’s thought process, specifically how it arrives at decisions like making a purchase. Today,...

Every business has its slow season. But just because you’re not swamped with sales, it doesn’t mean you can’t sustain your revenue and continue to grow your business! It’s possible to maintain both your revenue and your momentum through the slow periods, with a little bit of strategy. Even with fewer customers on a month-to-month basis, you can still meet quarterly and annual goals. Even better, y...